Reese Witherspoon's Hello Sunshine lays off about half of staff weeks after buyback
Key points
- Hello Sunshine laid off about 30 employees, roughly 50% of staff, weeks after the buyback
- Witherspoon completed the buyback from Candle Media with support from Mediawan
- Candle Media acquired a controlling stake in 2021 for $900 million; the buyback reportedly cost a fraction of that
Variety reports that Reese Witherspoon bought the production company Hello Sunshine back from Candle Media earlier this month, with support from Mediawan. Weeks after taking over, the company laid off about 30 employees, roughly 50% of its staff. Candle Media acquired a controlling stake in 2021 for $900 million; the buyback price was reportedly a fraction of that.
Original report: Variety ↗Edited with AI assistance. Facts are based on official sources and original reports.